Rhizosphere soil extracts obtained from eight cinnamon species and three pepper species cultivated organically were inoculated initially on Pikovskaya (PVK) medium. The twelve fungal isolates that solubilized the insoluble phosphates were further tested on the same medium added with both insoluble tricalcium phosphate and soluble dipotassium hydrogen phosphate to detect the expression of the trait in the presence of soluble phosphates in soil, for which all twelve qualified. The efficiencies of phosphate solubilization were investigated in two liquid media: PVK medium to represent soil phosphate pool and a rock phosphate (RP) medium, by determining the available phosphorus concentration in the liquid media at the end of the 24 h and 72 h incubation periods, respectively. The pH reduction in the medium was measured to ascertain the organic acid production by fungal isolates as a mechanism of solubilization. Three fungal isolates showing the highest efficiencies in phosphate solubilization were taxonomically identified based on the micromorphological characteristics and molecular techniques. Two isolates were identified as Penicillium oxalicum and Trichorderma virens and the other was belonging to the genus Aspergillus. A possible synergism between the three fungal species towards phosphate dissolution was detected using the broth culture procedure. Aspergillus sp. in combination with P. oxalicum dissolved both Ca3(PO4)2 and RP recording the highest significant dissolved phosphate levels of 893.43 (±56.768) mg P/L and 309.42 (±42.52) mg P/L, respectively, within 72 h post inoculation, making them prospective candidates for increased phosphate availability of soil phosphate pool and rock phosphates.